As you can imagine, more people are reading The Jerusalem Post than ever before.
Nevertheless, traditional business models are no longer sustainable and high-quality publications,
like ours, are being forced to look for new ways to keep going. Unlike many other news organizations,
we have not put up a paywall. We want to keep our journalism open
and accessible and be able to keep providing you with news
and analyses from the frontlines of Israel, the Middle East and the Jewish World.

A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group

Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH

Show me later

Israel will likely allow exports of medical cannabis by the end of the year, a top lawmaker said on Thursday, a move that would boost state coffers and slow the growing number of firms establishing farms abroad.

Israeli companies – befitting from a favourable climate and expertise in medical and agricultural technologies – are among the world’s biggest producers of medical cannabis.

The finance and health ministries estimate exports could bring in about $1 billion a year – but some MPs have up to now stopped Israeli-grown cannabis going abroad, fearing more cultivation could push more drugs onto the streets at home.

That passed its first of three votes in parliament last week, and is back with Kisch’s committee for revisions. “I aim to finish the legislation by the end of the year,” Kisch told Reuters.

“We believe it’s medicine and it’s important … It’s a big potential for Israeli farmers and the economy,” added Kisch, who estimates the regulation could boost tax income by 1 billion shekels ($268 million) a year.

There are currently eight cultivating companies in Israel – many of whom have resorted to opening farms abroad to get into the international market. The government says there have been many requests form business owners awaiting authorisation.

Cannbit – a newcomer which has a farm in southern Israel and this week signed a deal with local medical cannabis supplier Tikun Olam – said it was looking into opening a farm in Portugal if the new regulations do not go through.

“If there will be exports from Israel there is less tendency for investments in other places,” said CEO Yaron Razon.

Together, another Israeli cannabis grower, has already started up farms in Europe after signing a $300 million contract to supply cannabis products to a Canadian company.

“Exporting from Israel can have a big impact on the industry and economy,” said Alex Rabinovitch, controlling shareholder of InterCure, which recently bought medical cannabis firm Canndoc.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>